Government in Talks to Rent Out Foreclosures

Government in Talks to Rent Out Foreclosures #p #in

Last Update: 2011-07-28 06:15:37

Government in Talks to Rent Out Foreclosures

The Obama administration is considering a plan that would take foreclosed homes off the market and rent them out--in a move aimed at clearing the glut of unsold foreclosed homes and preventing home values from falling any more.Â

Nationally, sales of distressed homes, which are often sold at steep discounts, continue to pull down home values. Removing some of the high number of foreclosed homes for sale is â€œworth looking at,â€ Federal Reserve Chairman Ben Bernanke said in testimony to Congress.Â Read More >